Insurer Lloyd's Syndicate has
withdrawn its $215 million lawsuit against the Kingdom of Saudi Arabia and
others for providing financing to the 9/11 terrorist attacks. Lloyd's sued the Saudis and a few of their
banks and charities to recoup money it paid out following 9/11 to insured
airlines, jet manufacturers, airport authorities, security companies and other
parties.
Attorney Stephen Cozen of the
Philadelphia law firm Cozen O'Connor said Wednesday that, "I am instructed to
make no comments, other than to say the lawsuit was voluntarily
dismissed." The case - filed in U.S.
District Court in Johnstown - was dismissed "without prejudice." When a suit is dismissed without prejudice it
can be re-filed on later date.
Withdrawing the case could signify
any number of things: A settlement may
have been reached (although unlikely since it was filed just two weeks ago), that it's being handled through diplomatic channels, or that the plaintiff has
determined the case is too weak to proceed.
